Liabilities / Assets
21st percentile
Higher debt load relative to assets than 21% of similar nonprofits.
990 • Fiscal year 2011 • EIN 56-2217797
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
Liabilities / Assets
21st percentile
Higher debt load relative to assets than 21% of similar nonprofits.
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Assets
Up$7,314,195
Up $235,367 (+3.3%) from 2010
Net Assets
Up$7,124,154
Up $261,327 (+3.8%) from 2010
Liabilities
Down$190,041
Down $25,960 (-12%) from 2010
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$74,180
Down $4,054 (-5.2%) from 2010
Net Income
-
No earlier filing loaded for comparison.
Well-spring foundation provides financial support to well-spring retirement community. The primary financial support is for health care service provided and charity care.
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
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| IRS990/AccountsPayableAccruedExpenses/BOY | 0 | 1864 |
| IRS990/AccountsPayableAccruedExpenses/EOY | 0 | 15393 |
| IRS990/ActivitiesConductedPartnership | 0 | 0 |
| IRS990/ActivityOrMissionDescription | 0 | WELL-SPRING FOUNDATION PROVIDES FINANCIAL SUPPORT TO WELL-SPRING RETIREMENT COMMUNITY. |
| IRS990/AddressPrincipalOfficerUS/AddressLine1 | 0 | 4100 WELL SPRING DRIVE |
| IRS990/AddressPrincipalOfficerUS/City | 0 | GREENSBORO |
| IRS990/AddressPrincipalOfficerUS/State | 0 | NC |
| IRS990/AddressPrincipalOfficerUS/ZIPCode | 0 | 27410 |
| IRS990/AllOtherContributions | 0 | 63335 |
| IRS990/AnnualDisclosureCoveredPersons | 0 | 1 |
| IRS990/AuditCommittee | 0 | 1 |
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| IRS990/BsnssRltnshpThruFamilyMember | 0 | 0 |
| IRS990/BsnssRltnshpWithOrganization | 0 | 0 |
| IRS990/CashNonInterestBearing/BOY | 0 | 115025 |
| IRS990/CashNonInterestBearing/EOY | 0 | 64718 |
| IRS990/ChangesToOrganizingDocs | 0 | 0 |
| IRS990/CollectionsOfArt | 0 | 0 |
| IRS990/CompensationFromOtherSources | 0 | 0 |
| IRS990/CompensationProcessCEO | 0 | 1 |
| IRS990/CompensationProcessOther | 0 | 1 |
| IRS990/ConflictOfInterestPolicy | 0 | 1 |
| IRS990/ConservationEasements | 0 | 0 |
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| IRS990/ContributionsGrantsCurrentYear | 0 | 603335 |
| IRS990/ContributionsGrantsPriorYear | 0 | 662038 |
| IRS990/CreditCounseling | 0 | 1 |
| IRS990/DecisionsSubjectToApproval | 0 | 1 |
| IRS990/DeductibleContributionsOfArt | 0 | 0 |
| IRS990/DeductibleNonCashContributions | 0 | 0 |
| IRS990/DelegationOfManagementDuties | 0 | 0 |
| IRS990/DescribedIn501C3 | 0 | 1 |
| IRS990/Description | 0 | WELL-SPRING FOUNDATION IS ORGANIZED TO SERVE EXCLUSIVELY AS A SUPPORTING ORGANIZATION FOR THE BENEFIT OF WELL-SPRING RETIREMENT COMMUNITY BY CARRYING OUT PURPOSES THAT ARE CONSISTENT WITH AND THAT SUPPORT THE PURPOSE OF WELL-SPRING RETIREMENT COMMUNITY. |
| IRS990/DisregardedEntity | 0 | 0 |
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| IRS990/EscrowAccountLiability/EOY | 0 | 174648 |
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| IRS990/Expense | 0 | 73945 |
| IRS990/FamilyOrBusinessRelationship | 0 | 0 |
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| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 7 | 40.00 |
| IRS990/Form990PartVIISectionA/AverageHoursPerWeek | 8 | 40.00 |
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| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 2 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 3 | X |
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| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 5 | X |
| IRS990/Form990PartVIISectionA/IndividualTrusteeOrDirector | 6 | X |
| IRS990/Form990PartVIISectionA/NamePerson | 0 | K WILLIAM FRASER |
| IRS990/Form990PartVIISectionA/NamePerson | 1 | WILLIAM S CROSS III |
| IRS990/Form990PartVIISectionA/NamePerson | 2 | D HAYES CLEMENT JR |
| IRS990/Form990PartVIISectionA/NamePerson | 3 | E ELOY DOOLAN |
| IRS990/Form990PartVIISectionA/NamePerson | 4 | FLORENCE F GATTEN |
| IRS990/Form990PartVIISectionA/NamePerson | 5 | CHARLES T HAGAN III |
| IRS990/Form990PartVIISectionA/NamePerson | 6 | CHARLES M REID |
| IRS990/Form990PartVIISectionA/NamePerson | 7 | STEPHEN P FLEMING |
| IRS990/Form990PartVIISectionA/NamePerson | 8 | K ALAN TUTTEROW |
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| IRS990/Form990PartVIISectionA/Title | 5 | DIRECTOR |
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| IRS990/Form990PartVIISectionA/Title | 7 | PRESIDENT |
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| IRS990/MissionDescription | 0 | WELL-SPRING FOUNDATION PROVIDES FINANCIAL SUPPORT TO WELL-SPRING RETIREMENT COMMUNITY. THE PRIMARY FINANCIAL SUPPORT IS FOR HEALTH CARE SERVICE PROVIDED AND CHARITY CARE. IN CONJUNCTION WITH WELL-SPRING RETIREMENT COMMUNITY'S COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, WELL-SPRING RETIREMENT COMMUNITY AND WELL-SPRING FOUNDATION HAVE ESTABLISHED A BENEVOLENCE ASSISTANCE FUND WITH FUNDS THAT WILL BE USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING CHARITY CARE TO RESIDENTS IN NEED. A BENEVOLENCE COMMITTEE DETERMINES WHICH RESIDENTS OF WELL-SPRING RETIREMENT COMMUNITY SHOULD RECEIVE BENEFITS FROM THE FUND. |
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| IRS990/RelatedOrganizations | 0 | 540000 |
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| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | THE COMMUNITY RECEIVES CHARITABLE GIFT ANNUITIES WHEN A DONOR CONTRIBUTES ASSETS TO THE COMMUNITY IN EXCHANGE FOR THE COMMUNITY PAYING A FIXED ANNUITY THROUGH THE REMAINDER OF THE DONOR'S LIFETIME. THE COMMUNITY CALCULATES THE PRESENT VALUE OF EXPECTED FUTURE ANNUITY PAYMENTS AND RECORDS A LIABILITY. THE DIFFERENCE BETWEEN THE FAIR VALUE OF THE CHARITABLE GIFT ASSET AND THE PRESENT VALUE OF THE LIABILITY FOR FUTURE ANNUITY PAYMENTS IS RECORDED AS EITHER A RESTRICTED OR UNRESTRICTED CONTRIBUTION, DEPENDING UPON THE DONOR'S SPECIFICATION. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 1 | THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR THE PURPOSE OF PROVIDING CHARITY CARE TO WELL-SPRING RETIREMENT COMMUNITY RESIDENTS AND TO PROVIDE FINANCIAL SUPPORT OF WELL-SPRING RETIREMENT COMMUNITY'S OPERATIONAL EXPENSES. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 2 | WELL-SPRING AND THE FOUNDATION ARE NOT-FOR-PROFIT ORGANIZATIONS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). WELL-SPRING AND THE FOUNDATION FILE AS TAX-EXEMPT ORGANIZATIONS. SHOULD ANY STATUS BE CHALLENGED IN THE FUTURE, WELL-SPRING AND THE FOUNDATION ARE OPEN FOR EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF WELL-SPRING OR THE FOUNDATION. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR WELL-SPRING OR THE FOUNDATION. WELL-SPRING AND THE FOUNDATION HAVE ADOPTED GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE IMPLEMENTATION HAS HAD NO IMPACT ON THE COMMUNITY'S CONSOLIDATED FINANCIAL STATEMENTS. |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 0 | DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: |
| IRS990ScheduleD/Form990ScheduleDPartXIV/Identifier | 1 | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: |
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| IRS990ScheduleD/Form990ScheduleDPartXIV/ReturnReference | 2 | PART X: |
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| IRS990ScheduleI/Form990ScheduleIPartIV/Explanation | 0 | SCHEDULE I, PART I, LINE 2: WELL-SPRING FOUNDATION REQUIRES WELL-SPRING RETIREMENT COMMUNITY TO PROVIDE SUPPORT FOR FUNDS REQUESTED BEFORE FUNDING WILL OCCUR. |
| IRS990ScheduleI/Form990ScheduleIPartIV/Identifier | 0 | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: |
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| IRS990ScheduleI/RecipientTable/PurposeOfGrant | 0 | FOR TWO CERTIFIED NURSING ASSISTANTS - ACTUAL PAY AT FMV PLUS BENEFITS. |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | THE WELL-SPRING RETIREMENT COMMUNITY BOARD OF TRUSTEES ELECTS ALL OF THE WELL-SPRING FOUNDATION DIRECTORS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | THE WELL-SPRING RETIREMENT COMMUNITY BOARD OF TRUSTEES ELECTS ALL OF THE WELL-SPRING FOUNDATION DIRECTORS. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | BEFORE THE FILING OF THE INFORMATION TAX RETURN 990 FOR WELL-SPRING FOUNDATION, THE FORM 990 WAS REVIEWED IN DETAIL BY THE TREASURER AND PRESIDENT. EACH MEMBER OF THE WELL-SPRING FOUNDATION'S BOARD OF DIRECTORS WAS PROVIDED WITH A COPY OF WELL-SPRING FOUNDATION'S FORM 990 PRIOR TO FILING OF THE FORM 990. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE DIRECTORS SHALL COMPLETE AND RETURN TO THE SECRETARY AN ANNUAL STATEMENT THAT EACH OF THEM: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (B) HAS READ AND UNDERSTANDS THE POLICY; (C) AGREES TO COMPLY WITH THIS POLICY; (D) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES; AND (E) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND MUST CONTINUOUSLY ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | WELL-SPRING FOUNDATION HAS NO EMPLOYEES. THE PROCESS FOLLOWED BY WELL-SPRING RETIREMENT COMMUNITY (RELATED ORGANIZATION) IS AS FOLLOWS: IT SHALL BE THE POLICY OF WELL-SPRING RETIREMENT COMMUNITY TO ANNUALLY REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO UNLESS CIRCUMSTANCES DEMAND MORE FREQUENT REVIEW INTERVALS. THE BOARD OF TRUSTEES SHALL CONDUCT THE PRESIDENT/CEO'S REVIEW; HOWEVER THE BOARD OF TRUSTEES MAY DELEGATE THIS FUNCTION TO ITS COMPENSATION COMMITTEE. PROCEDURES FOR SETTING COMPENSATION: 1) A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2) THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE WELL-SPRING RETIREMENT COMMUNITY'S FISCAL YEAR. 3) PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS THE AAHSA SALARY AND BENEFIT REPORT, NCANPHA WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4) PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR. 5) AT THE MEETING, THE PRESIDENT/CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT/CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEE'S DISCRETION. 6) AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS, THE COMMITTEE MAY EXCUSE THE PRESIDENT/CEO, ENTER INTO EXECUTIVE SESSION AND DISCUSS THE PRESIDENT/CEO'S PERFORMANCE AND COMPENSATION. 7) AT THE CONCLUSION OF THE MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL MEET WITH THE PRESIDENT/CEO IN ORDER TO REVIEW THE COMMITTEE'S ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT/CEO'S COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY. 8) AT THE FIRST BOARD OF TRUSTEES' MEETING FOLLOWING THE COMPENSATION COMMITTEE'S MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL REPORT THE COMMITTEE'S FINDINGS AND THE COMMITTEE'S ACTION REGARDING EMPLOYMENT STATUS, RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT/CEO. EXECUTIVE MANAGERS COMPENSATION PHILOSOPHY OBJECTIVE: THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF WELL-SPRING'S EXECUTIVE COMPENSATION POLICIES SHOULD BE: 1) TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS, OVERALL, HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD, WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH WELL-SPRING'S ANNUAL BUDGET, FINANCIAL OBJECTIVES, OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION; AND 2) TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF WELL-SPRING'S ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON WELL-SPRING'S ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION WELL-SPRING'S FINANCIAL PERFORMANCE, ITS ANNUAL BUDGET, ITS POSITION IN THE INDUSTRY AND WELL-SPRING'S MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE, IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL MAY MAKE TO THE SUCCESS OF WELL-SPRING RETIREMENT COMMUNITY, INC. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | WELL-SPRING FOUNDATION'S FINANCIAL STATEMENTS ARE CONSOLIDATED WITH THOSE OF WELL-SPRING RETIREMENT COMMUNITY. INCLUDED WITH THE AUDITED FINANCIAL STATEMENTS ARE SCHEDULES, WHICH SHOW STAND-ALONE FIGURES FOR BOTH WELL-SPRING FOUNDATION AND WELL-SPRING RETIREMENT COMMUNITY. THE CONSOLIDATED FINANCIAL STATEMENTS ARE PART OF WELL-SPRING'S ANNUAL DISCLOSURE STATEMENT, WHICH IS FILED WITH THE NC DEPARTMENT OF INSURANCE. THE NC DEPARTMENT OF INSURANCE POSTS ALL DISCLOSURE STATEMENTS ON THEIR WEB SITE. THE CONSOLIDATED FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH THE SEC VIA WWW.DISCLOSUREUSA.ORG. ADDITIONALLY, COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 6 | NET UNREALIZED LOSSES ON INVESTMENTS: -300,939. TRANSFER OF NET ASSETS FROM FOUNDATION TO WELL-SPRING -159,583. TOTAL TO FORM 990, PART XI, LINE 5: -460,522. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 7 | THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 8 | AVERAGE HOURS PER WEEK LISTED IN COLUMN (B) INCLUDE HOURS UTILIZED TOWARDS BOTH THE FILING ORGANIZATION AND RELATED ORGANIZATIONS. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | CHANGES IN NET ASSETS OR FUND BALANCES: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART VI, SECTION A, LINE 7A |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART VI, SECTION A, LINE 7B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | FORM 990, PART XI, LINE 5: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 7 | FORM 990, PART XII, LINE 2C: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 8 | FORM 990, PART VII, LINE 1A, COLUMN (B): |
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| IRS990ScheduleR/TransactionsRelatedOrgsTable/AmountInvolved | 1 | 540000 |
| IRS990ScheduleR/TransactionsRelatedOrgsTable/AmountInvolved | 2 | 159583 |
| IRS990ScheduleR/TransactionsRelatedOrgsTable/MethodOfAmtDetermination | 0 | CASH TRANSACTION |
| IRS990ScheduleR/TransactionsRelatedOrgsTable/MethodOfAmtDetermination | 1 | CASH TRANSACTION |
| IRS990ScheduleR/TransactionsRelatedOrgsTable/MethodOfAmtDetermination | 2 | CASH TRANSACTION |
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| IRS990ScheduleR/TransactionsRelatedOrgsTable/TransactionType | 1 | C |
| IRS990ScheduleR/TransactionsRelatedOrgsTable/TransactionType | 2 | Q |
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Displayed year
2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.